MoonPay has acquired crypto key management firm Sodot in a deal reportedly worth around $100 million, while launching a new institutional division to expand beyond retail services.
The acquisition underpins MoonPay Institutional, a platform designed to help traditional financial firms access digital asset infrastructure, including custody and transaction systems.
“Boards and investors are asking management the same question: What is your digital asset strategy? MoonPay Institutional gives them the answer,”
Said Caroline D. Pham, who will lead the division.
Founded in 2023, Sodot has processed more than $50 billion in transactions and secured over 10 million wallets, offering key management solutions for asset managers, custodians, and market makers.
MoonPay CEO Ivan Soto-Wright said the move marks “the next stage” of the company’s growth as it targets institutional adoption of digital assets.
The expansion comes as institutional demand accelerates, with stablecoin volumes reaching $33 trillion in 2025 and a majority of asset managers planning increased crypto exposure.
The deal positions MoonPay to compete in the growing market for institutional crypto infrastructure, as traditional finance firms deepen their engagement with blockchain-based assets.